13 May 2020
Which Broker is the cheapest to use if I want to Dollar cost Average (SGD1,000 every month into US ETF and hold for at least 5years? Total amount is less than (USD100,000). SAXO vs IB vs TD vs others?
Which Broker platform to use for long term US ETF trading total amount less than US$100,000?
Hey Anonymous, since you are looking to hold for a long duration of time, it is vital to minimise the costs which could be transaction fees, management fees, amongst others.
Interactive Brokers could be a good choice, if not for the fall below fee and your restriction of having a total amount of less than US$100k. They charge around USD$1 per trade, and they use spot rates for their FX. Hence both could help you save quite a bit.
Keeping in mind the fact that you're looking at a total of less than US$100k, perhaps Saxo or TD could be a better choice if you do a simulation of your costs over the 5 years.
TD is definitely cheaper than Saxo....
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